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Takeover target Wotif.com Holdings Limited (ASX:WTF) has reported a 15.4 per cent profit fall for the 2014 financial year.The online travel booking company generated a net profit in line with guidance at $43.2 million, but down from $51 million the year before.Total revenue rose just 2.1 per cent, offset by increasing costs invested in core technology and marketing.CEO and Managing Director Scott Blume says the company delivered a more diversified business over a year in which the competitive landscape continued to rapidly change.Wotif’s directors last month backed $703 million takeover offer from US online travel giant Expedia Inc (NASDAQ:EXPE).Mr Blume has advised the scheme implementation arrangement process is progressing and expected to conclude in October 2014.
